Nucor reduced its Consumer Spot Price (CSP) -the price it charges its customers for hot rolled coils at all of its producing mills- by $10/st ($11/mt) to $670/st ($739/mt), FOB mill, the steel maker said today in an announcement to all of its customers.
This week’s reduction follows a $35/st ($39/mt) decline announced on June 24 to $680/st ($750/mt) and represents the lowest price offer for Nucor since the steel maker began releasing the weekly CSP indicator in early April.
Recent Nucor price declines come as flat steel prices continue to slip in US spot markets amid slack US demand for finished steel products, and a growing consensus that July scrap prices will be mixed versus June.
Domestic spot HRC prices are now assessed another $25/st ($28/mt) less at $670-$680/st ($739-$750/mt), versus $675-$725/st ($744-$799/mt) delivered to customer one week ago, when July scrap was discussed soft-sideways to $10-$20/gt ($10-$20/mt) less on all grades except primes, scrap traders told SteelOrbis.
